Garry Hoffman, the chair of UK fintech Monzo, is set to depart from his role next month. This exit comes over a year earlier than the end of his nine-year term.
Non-executive director Karen Peacock will take over as interim chair while the search for a permanent replacement begins. Hoffman joined Monzo in 2019.
His departure follows a period of boardroom turmoil for the digital bank, which has over 16 million customers. This included the departure and subsequent return of long-standing boss TS Anil.
Anil had initially announced in October 2025 that he would step down, but later returned to the Monzo board as vice-chair. This followed an alleged rebellion threat against Hoffman by loyalists to the former boss.
Hoffman stated that with Diana Layfield as group chief executive officer, Rupert Keeley as chair of the UK, and Karen Peacock ready to become interim chair of the Group, it "feels like the natural time to depart as Monzo pursues its next phase of growth." His official departure date is slated for early September.